Last Updated on Monday, 8 July 2024, 21:32 by Writer
India is providing a US$2.5 million line of credit to construct a 3 megawatt solar farm for Guyana’s Cheddi Jagan International Airport (CJIA), Chief Executive Officer of the Guyana Energy Agency (GEA), Dr Mahender Sharma said Monday.
“The proposed capacity of the solar photovoltaic (PV ) project, when it starts operation, can supply about 4.5 million units of electricity annually,” he said.
Dr Sharma said the system could substitute almost 80 percent of the airport’s energy demand with renewable energy and mitigate an estimated 72,000 metric tonnes of carbon dioxide equivalent over its lifetime operation.
The CJIA currently spends GY$260 million (about US$1.2 million) annually on fossil-fuel generated electricity.
The Reserve Bank of India (RBI) said in a statement on Monday that the credit line agreement takes effect on July 24 and the last date for disbursement will be 48 months after the scheduled completion date of the project.
RBI also says goods, works and services of the value of at least 75 percent of the contract price must be supplied by the seller from India, and the remaining 25 percent may be procured by the seller from outside India.
